Albany, NY, Feb. 02, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report on the global continuous glucose monitoring market. According to the report, the global continuous glucose monitoring market was valued at US$370 mn in 2012 and is predicted to reach US$910 mn by 2019. The report, titled ‘Continuous Glucose Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019’, states that the global continuous glucose monitoring market is predicted to expand at a 13.60% CAGR during the period from 2013 to 2019.
The demand for continuous glucose monitoring systems (CGMS) has increased rapidly as these systems display real-time glucose levels from the patient’s body at regular intervals. CGMS use wireless technology to measure glucose levels. As per the International Diabetes Federation (IDF), globally, about 382 mn people were identified with diabetes in 2013 and the number is predicted to reach 592 mn by 2035. The increasing number of people being diagnosed with diabetes is expected to propel the global continuous glucose monitoring market throughout the forecast period.
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The global continuous glucose monitoring market is segmented on the basis of geography and device/brand. By device/brand, the global continuous glucose monitoring market is classified into guardian real time CGM system, freestyle navigator, dexcom seven plus CGM system, dexcom G4 platinum, minimed paradigm revel/veo system, and others. Based on device/brand, the global continuous glucose monitoring market is analyzed by factors such as sales revenue, commercial launch, usage, geographical presence, and technical developments. In terms of market share, in 2012, the guardian real time CGM system dominated the global continuous glucose monitoring market, followed by dexcom seven plus CGM systems. Demand for the dexcom G4 platinum CGM system also is predicted to expand rapidly during the forecast period.
The global continuous glucose monitoring market is widespread, as leading companies offer innovative CGMS in different regions. Some of the leading companies in the global continuous glucose monitoring market are Medtronic, Inc., Abbott Diabetes Care, Inc., Nova Biomedical Corporation, GlySens, Inc., Insulet Corporation, Dexcom, Inc., Bayer AG, and Senseonics, Inc.
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By geography, the global continuous glucose monitoring market is classified into North America, Europe, Asia Pacific, and Rest of the World. In 2012, North America led the global continuous glucose monitoring market. The North America continuous glucose monitoring market is driven by factors such as the rising obese population, increasing technical advancements in medical equipment, and increasing aging population. The Asia Pacific continuous glucose monitoring market is predicted to grow rapidly during the forecast period. Changing lifestyles, economic development, and increasing patient awareness are the driving factors for the Asia Pacific regional market.
Factors such as calibration issues and unfavorable reimbursement policies are predicted to hamper the growth of the global continuous glucose monitoring market. Increase in demand for point of care testing (POCT) is expected to create growth opportunities for the global continuous glucose monitoring market in the coming few years.
Key Segments of Global Continuous Glucose Monitoring Market
Continuous Glucose Monitoring Market, by Device/Brand
- Guardian Real Time CGM System
- FreeStyle Navigator
- Dexcom Seven Plus CGM System
- Dexcom G4 Platinum
- MiniMed Paradigm Revel/Veo System
Continuous Glucose Monitoring Market, by Geography
- North America
- Rest of the World (RoW)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research